In particular, the administration plans to look into acquisitions by “dominant internet platforms” of new rivals as well as deals that involve accumulating personal information and affect privacy. The U.S. president also urged the Federal Trade Commission (FTC) to set new rules to ensure competition on online marketplaces and to restrict employers’ use of non-compete clauses. And the executive order directed the Consumer Financial Protection Bureau to require banks to release customers’ data to them so they can switch lenders. (The Logic)

Talking point: The administration’s emphasis on the market power conferred by accumulating data reflects a growing focus among some antitrust policymakers and -observers. The Canadian government has initiated but not concluded a similar review of its rules. In May 2019, then-innovation minister Navdeep Bains instructed the Competition Bureau to evaluate the impact of digital transformation and data accumulation on competition, with a view to regulatory changes. Despite nearly three years of consultations, Ottawa also has yet to launch an open banking regime, similar to the one Biden’s executive order might enable.